The company has a franking account surplus of $8,000 on 1 July 20XX. In addition, the company made the following transactions: a. The company made a PAYG instalment payment of $40,500 on 21 July 20xx. b. The company paid a PAYG instalment payment of $45,500 on 21 October 20xx. c. On 1 November 20xw, the company received a tax refund of $35,680 for the tax year 20xw/xx. d. On 31 December 20xx, the company paid a fully franked interim dividend of $350,000. e. The company made a PAYG instalment payment of $55,500 on 21 January 20xY. f. The company paid a PAYG instalment payment of $50,500 on 21 April 20xY. 9. On 1 June 20XY, the company received a dividend of $220,000. This had a franking percentage of 75%. h. On 30 June 20xY, the company paid a fully franked final dividend of $450,000. D E F B View this link for Franking Account information View this link for Franking Deficit Tax Offset information Royal Watch Ltd Franking Account For the period 1 July 20XX to 30 June 20XY Date Details Debit Credit Balance 01/07/20XOpening balance carried forward from previous year