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New company or Legal Entity or ...?

We are set up in Oracle EBS 12.2.4 with a single company and legal entity. We only use GL and AP. Our partnership agreement materially change. Because of this we will liquidating the current entity (on the books) and starting fresh with a new one. There will be concurrent transactions (invoices, accruals, etc.) in the old and new entities for several months. Durring this time, we need to be able to produce seperate financial statements for each entity. We may need to produce combines statements as well but I doubt that and do not

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