Nikita Malazarte Feeds based in V. Rama trades specialty feeds for race horse, fighting cocks, aquarium fish, zoo animals, and other animals generally considered as pets. On May 13, 2017, Nikita Malazarte Feeds purchased on account specialty feeds with the total amount payable of P784,000. Bret Balbuena Wholesalers bought for cash all the available feeds on May 25, 2009; amount of cash received was P1,120,000. Nikita Malazarte Feeds paid the value-added tax due by the month end not minding the actual deadline. Prepare the journal entries