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M6-2 (Algo) Reporting Net Sales with Sales Discounts, Credit Card Discounts, and Sales Returns L06-1 Total gross sales for the period include the following: Credit
M6-2 (Algo) Reporting Net Sales with Sales Discounts, Credit Card Discounts, and Sales Returns L06-1 Total gross sales for the period include the following: Credit card sales (discount 41) $ 9,600 sales on account (3/15, 1/60) $ 9,800 Sales returns related to sales on account were $600. 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? (Do not round intermediate calculations, Round your answer to 2 decimal places.) Not sales
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