Total gross sales for the period include the following:
Credit card sales (discount 3%) ........ $8,400
Sales on account (1/15, n/60) ......... $10,500
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?