Can we create 2 MPA in the same Instance for different ledgers

Dear Guru's,

We have 1 COA, and 4 Ledgers for respective Geo's, in the same Instance.

We have a different requirement of Multi Period Accounting for 2 Ledgers,  

1 ledger with the Multiperiod Accounting Assignment for GL periods as 'Last day GL Period' and for another geo we have as 'Originating period' so that the GL dates will be different in subsequent periods for these 2 ledgers, for this to acheive we need to have 2 different 'Journal Line Types' setups.

But, whether we can create 2 different JLT's by having all the features same, and only changing the prorating GL period. In such a case like which JLT should i enable out of my two user defined JLT's ( in case when we setup a new JLT, we will be disabling Item Expenses and enabling only user defined JLT)