We find out early in this episode that Sgt. Carter does not have a savings account. That's a problem because he wants to buy a $70 watch for his girlfriend Bunny for her birthday. But here comes Gomer who promptly offers to loan the money to Carter and Carter reminds Gomer that he (Carter) would be court-martialed if he accepted the money. So then Carter buys the watch on time payments, paying just 1 dollar as down payment. Carter picks up the watch off the counter and walks out. But Gomer sees Carter grab the watch and walk out and he thinks that Carter stole the watch. Gomer, how could you?! Where's your faith in Sgt. Carter?!
So that's the premise. All kinds of nutty and confusing things follow, all of them Gomer's fault. He basically makes a complete mess of things. There are very funny scenes between Gomer and the Chaplain and also Carter and the Chaplain.
This is a very well done episode with lots of laughs.