Buffalo Ltd, sold 10-year, 5% convertible bonds with face value $1,350,000. The bonds pay interest December 31 each year, Buffalo follows ASPE, Each bond was convertible into 450 Buffalo common shares. The sale resulted in a value for the convertible option of $269,000. On January 2, 2021, Buffalo offered a cash payment of $32,000 to bondholders if they would convert their bonds into common shares. All of the bondholders agreed. At the time, the market value of the bonds was $1,537,000 and the carrying value of Buffalo's books was $1,522,000 Prepare the journal entry to record the early retirement of the bonds. (Credit account tities are eutomotically indented when the amount is entered. Do not indent manually.)