accounting for "sold" inventory

[Jay Hyde]

Hi,
I am trying to use gnucash to run my small business.

I have experienced a huge problem.

My business does 3 things:
1) Buy a product and sell it
2) modify an existing product that I do NOT own
3) create new products to sell.

So far, I have only modified an existing product (#2).  This was easy, I 
just did the work, created an invoice and Gnucash put the money in 
"accounts receivable." That was fine.

I recently bought $1,000.00  of items for re-sale, so I put $1,000.00 in 
an account called "inventory."  I don't need to "track" the inventory, 
just the dollars of inventory I HAVE.  I sold an Item for $10.  This was 
fine, but I still have $1,000 in the "inventory" account AND AN 
ADDITIONAL $10 IN "ACCOUNTS RECEIVABLE."

How do I "account" for the reduction in inventory?
How do I reduce the "inventory account" by the $10 that I sold?

Jay

J&J Maintenance and Repair