Hello all:


I am a small computer parts retailer (one-person shop):

Here is the situation: I purchased several inventory items on my personal chargecard
for my business. In quickbooks, I created a "personal charge card account" and
under the Banking toolbar, I entered my charges. Come to find out this was not
the right thing to do, so I contacted an accountant to ask 'how to fix it'.

He asked me if I plan to ever reimburse myself for it - or, just treat it as
an investment in my business.... I told him that I really didn't want to reimburse
myself - - so he told me to zero out the charge card entries, and make journal
entries as follows:

Inventory Item #1----$200.00
Inventory Item #2----$100.00
Owners Investment-----------------------$300.00


When I do that, though, my P/L statement has a
-300.00 Cost of Goods Sold.... That is not correct at all.

How do I fix the Cost of Goods Sold????? or, how do I get
rid of the entire credit card purchases all together???

Thanks in Advance!!!