Prepare appropriate journal entries using the accrual basis of accounting. 
Definitions:
GAAP Net Income
The profit of a company computed based on Generally Accepted Accounting Principles, which includes all revenues, expenses, gains, and losses.
Annual Incentive Plans
Programs designed by organizations to reward employees based on the achievement of specific annual performance goals.
Conflicts of Interest
Situations where a person or institution has multiple interests, and serving one interest could involve working against another, potentially leading to ethics concerns.
Compensation Packages
The combination of salary, benefits, and other forms of payment provided to employees for their work.
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