On September 1, ABC sells a piece of equipment (that costs $290) for $590 cash. The company offers a one-year warranty that covers parts. Warranty expense is estimated at 10% of sales. They record warranty expense at the time of the sale. Next year, on January 24, the customer is not satisfied and the equipment is brought in for repairs. The equipment is covered under the warranty requiring $41 in materials taken from the Repair Parts Inventory. Prepare the September 1 entry to record the equipment sale (and cost of sale) and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.)