Need to Update Existing Supplier Name but Keep Reference to Legacy Name on Old Transactions

Summary:

Through normal course of business, suppliers will undergo name changes. However, if we update the name of the supplier on the vendor record, it will update all prior transactions with that vendor. For reporting purposes, we would like to be able to maintain the old vendor name for historical transactions but leverage the new vendor name for future transactions. Example screenshots attached. Is it possible to have this achieved?

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