Identify whether the following payments are receipts of a resident company result in any franking credit or franking debit entries in its franking account and state the amount of credit or debit if any.

with the explanation.

1 payment of income tax of $300

2 payment of a PAYG instalment of $600

3 payment of gst of $100

4 payment of FBT of $500

5 receipt of a $700 dividend which has $100 of franking credits allocated to it.

please use Australian law