Total gross sales for the period include the following:

Sales returns related to sales on account were $500. All returns were made before payment. One-half of the remaining sales on account was 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?LO1

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Credit card sales (discount 3%) Sales on account (2/15, n/60) $8,000 $9,500