The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, the city estimated that it will require $1,900,000 to finance governmental activities for the remainder of the fiscal year. On that date, it had $710,000 of cash on hand and $770,000 of current liabilities. Collections for the remainder of the year from revenues other than current property taxes and from delinquent property taxes, including interest and penalties, were estimated at $800,000. Required Calculate the estimated amount of tax anticipation financing that will be required for the remainder of the current fiscal year. Assume that on April 2, the City of Troy borrowed the amount calculated in part a by signing tax anticipation notes bearing 5 percent per annum to a local bank. Record the issuance of the tax anticipation notes in the general journals of the General Fund and governmental activities at the government-wide level. By October 1, the city had collected a sufficient amount of current property taxes to repay the tax anticipation notes with interest. Prepare the general journals of the General Fund and governmental activities at the government-wide level.