Dolores Domingo invested P5,000,000 in her business on January 2, 20A in the name of: HONEST MERCHANDISING, registered her business with the government registry offices as a value-added taxpayer and registered her books of accounts and receipts/invoices with the Bureau of Internal Revenue as a value-added taxpayer. The following were the transactions for January 20A: January 2 Invested P5,000,000 in the business January 3 Purchased office equipment with a cost of P1,800,000 plus VAT of P216,000 for use in the office January 7 Purchased merchandise for P200,000 plus VAT P24,000 January 11 Sold merchandise for P600,000 plus VAT of P72,000 January 15 Paid expenses to a VAT suppler of services at P100,000 plus VAT of P12,000 January 25 Sold merchandise for P600,000 plus VAT of P72,000.