What is the treatment for Value Added Tax to be remitted on the following year?

Example:
December 2013
Input tax 10,714.29
Output tax 12,857.14
To be remitted January 2014 2,142.85

Is this entry correct?

Due to BIR 2,142.85
Other Liabilities VAT 2,142.85

How will I present this to my financial statements?

No need for any journal entry since the VAT account will show the credit balance as at the balance sheet date and will be reported as current liability. In January 2014, you will debit VAT account and credit bank when payment is made.