Should it be possible to buy shares of a closed equity account?

[Jack Ostroff]

I was just reconciling my investment account (confirming number of  
shares held) and my statement shows a number of shares of a stock which  
did not appear in the investments list for that account.  I went back  
to the ledger, and found the buy shares transaction, which shows a  
balance of the same number of shares bought (in the past month.)  When  
I searched for all transactions for that equity, I discovered that all  
shares owned were sold last year.  At that point, I apparently closed  
the equity account to prevent it from cluttering up my listings.  This  
month's OFX download included the purchase, leading to my owning shared  
in a closed account.

If an import includes a purchase of shares in an existing but closed  
equity, what is the proper way to handle it?  Just completing the  
purchase does NOT seem correct to me, as I assume I would not be able  
to close the account with shares present.  Should it just automatically  
reopen the account?  With or without some notification?  Should I file  
a bug to track this?

Opinions?

Jack