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1. Preheat oven to 300 degrees F. In a large saucepan whisk together apple juice, 1/2 cup peanut butter, applesauce, honey, and oil. Cook over medium heat until mixture starts to simmer and thicken, whisking frequently. Remove from heat. Stir in oats; cool slightly. Stir in white whole wheat flour and all-purpose flour to form a very stiff dough. Divide dough in half.
2. On a lightly floured surface, roll half of the dough at a time until 1/4-inch thick. Using about 1-inch cookie cutters, cut dough into desired shapes. Place cutouts on two ungreased large cookie sheets.
3. Bake on separate oven racks for 15 minutes. Turn treats over and rearrange cookie sheets. Bake for 15 minutes more or until light brown. Turn off oven; let dry in oven for 1 hour. If desired, decorate treats with additional peanut butter.