On January 1,2020, Buffalo Corporation, which follows ASPE, issued a series of 400 convertible bonds, maturing in five years. The face amount of each bond was $1,000. Buffalo received $435,000 for the bond issue. The bonds paid interest every December 31 at 4%; the market interest rate for bonds with a comparable level of risk was 3%. The bonds were convertible to common shares at a rate of ten common shares per bond. Buffalo amortized bond premiums and discounts using the effective interest method, and the companys year-end was December 31. On January 1, 2021, 80 of the bonds were converted into common shares. On June 30, 2021, another 80 bonds were converted into common shares. The bondholders chose to forfeit the accrued interest on these bonds. On January 1, 2022, when the fair value of the bonds was $252,100 due to a decrease in market interest rates, a conversion inducement of $23/bond was offered to the remaining bondholders to convert their bonds to common shares. All of the remaining 240 bonds were converted into common shares at this time. Prepare all required journal entries to record the above transactions

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Please do those red boxes since they are wrong

Jan. 1, 2020 Cash Bonds Payable 418319 Contributed Surplus - Conversion Rights 16681 Dec. 31 , 2020 Interest Expense 12550 Bonds Payable 3450 Cash Jan. 1, 2021 Bonds Payable 82974 16000 Contributed Surplus - Conversion Rights Common Shares 86310 Jun. 30, 2021 Bonds Payable 82974 Contributed Surplus - Conversion Rights 3336 Interest Expense 1556 Common Shares Dec. 31, 2021 Interest Expense 7468 Bonds Payable 2132 Cash 9600 Jan. 1, 2022 Bonds Payable 246789 Loss on Redemption of Bonds 3011 Contributed Surplus - Conversion Rights 5809 Retained Earnings 1069 Common Shares 252598 Cash 4080 Jan. 1, 2020 Cash Bonds Payable 418319 Contributed Surplus - Conversion Rights 16681 Dec. 31 , 2020 Interest Expense 12550 Bonds Payable 3450 Cash Jan. 1, 2021 Bonds Payable 82974 16000 Contributed Surplus - Conversion Rights Common Shares 86310 Jun. 30, 2021 Bonds Payable 82974 Contributed Surplus - Conversion Rights 3336 Interest Expense 1556 Common Shares Dec. 31, 2021 Interest Expense 7468 Bonds Payable 2132 Cash 9600 Jan. 1, 2022 Bonds Payable 246789 Loss on Redemption of Bonds 3011 Contributed Surplus - Conversion Rights 5809 Retained Earnings 1069 Common Shares 252598 Cash 4080