Mr. Imbezle, CEO of Sucker Corp., threw a lavish birthday party for his poodle, Skippy. He instructed the accounting department to make the following entry:

Dr. Promotional Expense 75,000

Cr. A/P -Lavish Parties R. Us 75,000

As a professional CPA, what statement best describes what you should do if asked to make the above entry, and why?

A. Refuse to record the entry because it violates the economic entity assumption

B. Record the entry so long as the bill from Lavish is accurate

C. Refuse to record the entry because the dollar amount is material

D. Record the entry if Imbezle is willing to take responsibility for it