On April 1, 2019, a county borrows $1,000,000 for its General Fund activities on a tax anticipation note (TAN) that matures on January 31, 2020 with interest of 3 percent per annum. The county operates on a calendar-year basis. What journal entries, if any, should the county make in its General Fund on April 1, 2019 and December 31, 2019?
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