Assignment of an existing Legal Entity to a new Primary Ledger

Summary

Assignment of an existing Legal Entity to a new Primary Ledger

Content

Customer is on a live Fusion Cloud Instance with Financials (Payables and GL), Supplier Portal, Inventory and Purchasing, and HCM.

There are Seven BU's assigned to one Legal Entity and one Primary Ledger in use.

Customer do not want to use the existing primary Ledger and wants to create a new Primary Ledger.

There is a need to create a new COA Structure, COA Structure Value sets and Values. 

Appreciate any guidance or experience with reference to Legal Entity for above context:

1. Is it possible to use the existing Legal Entity and assign to the New Primary Ledger? If so, what would the impact on Payroll Organization and other HCM functionality?