Steve is part owner and manager of a small manufacturing company that makes keypads for alarm systems. The keypads are sold to several different alarm companies throughout the country. Steve must travel to several cities each year to meet with current customers and to attract new business. When you meet with Steve to obtain information to prepare his current year tax return, he tells you that he has spent about $5,000 during the current year on airfare and taking his customers out to dinner to discuss business. Because he took most of his trips in the summer and fall, and it is now April of the following year, Steve cannot remember the exact time and places of the business dinners and did not retain any receipts for the cash used to pay the bills. However, he remembers the names of the customers he went to see, the business topics that were discussed, and the restaurants where he had his meals. As Steve’s tax consultant, what is your responsibility regarding the treatment of the travel and entertainment expenses under the mandates of the AICPA’s Statements on Standards for Tax Services? Prepare a client letter explaining to Steve the requirements under Sec. 274(d) for sufficient substantiation of travel and entertainment expenses.