On January 1,2020, Oriole Corporation, which follows IFRS, issued a series of 500 convertible bonds, maturing in five years. The face amount of each bond was $1,000. Oriole received $527,000 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. Oriole amortized bond premiums and discounts using the effective interest method, and the companys year-end was December 31. On January 1, 2021, 100 of the bonds were converted into common shares. On June 30, 2021, another 100 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 $309,700 due to a decrease in market interest rates, a conversion inducement of $19/bond was offered to the remaining bondholders to convert their bonds to common shares. All of the remaining 300 bonds were converted into common shares at this time. Prepare all required journal entries to record the above transactions.