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ABC receives a refundable deposit for $100,000 to sell widgets to WTH company in 2/2016. ABC then purchases $40,000 ( at a cost of $1.00)

ABC receives a refundable deposit for $100,000 to sell widgets to WTH company in 2/2016. ABC then purchases $40,000 ( at a cost of $1.00) per unit) of inventory on credit. Please provide the journal entries and show all work

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