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Even if petitioners' deposit theory were consistent with the
accounting method that they are defending, their reliance upon
Indianapolis Power & Light would be misplaced. Not all
refundable payments can be excluded from income. There is a
large body of case law to the contrary. See, e.g., Brown v.
Helvering, 291 U.S. 193 (1934) (insurance commissions repayable
in the event of policy cancellation); United States v. Wiese, 750
F.2d 674, 677 (8th Cir. 1984) (refundable payments received under
installment sales contract prior to delivery of merchandise);
Union Mut. Life Ins. Co. v. United States, 570 F.2d at 386 n.2
(prepaid interest refundable in the event of premature loan
repayment); Ertegun v. Commissioner, 531 F.2d 1156 (2d Cir.
1976), affg. T.C. Memo. 1975-27 (receipts from record sales under
contract entitling purchaser to return for credit refund); S.
Garber, Inc. v. Commissioner, 51 T.C. 733 (1969) (refundable
advance payments for custom-made clothing); Moritz v.
Commissioner, 21 T.C. 622 (1954) (refundable advance payments for
photographs); South Tacoma Motor Co. v. Commissioner, 3 T.C. 411
(1944) (purchase price of books of coupons redeemable in exchange
for automobile maintenance services, where buyer entitled to
return unused coupons for pro rata refund); Colonial Wholesale
Beverage Corp. v. Commissioner, T.C. Memo. 1988-405, affd. 878
F.2d 23 (1st Cir. 1989) (refundable container deposits on
beverage sales); Handy Andy T.V. & Appliances, Inc. v.
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