M6-2 (Algo) Reporting Net Sales with Sales Discounts, Credit Card Discounts, and Sales Returns LO6-1 Total gross sales for the period include the following: Credit card sales (discount 4%) $ 9,800 Sales on account (2/15, n/60) $ 11,300 Sales returns related to sales on account were $300. All returns were made before payment. One-half of the remaining sales on account were paid within the discount period. The company treats all discounts and returns as contra-revenues. What amount will be reported on the income statement as net sales