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Terry,
This is what I would've done:
update ipadmin.GL_TXN set defunct = 'Y'
from ipadmin.gl_txn
where transacted_on >= convert(datetime, '03/07/2008', 103)
and transacted_on < convert(datetime, '03/07/2008', 103) + 1
and belongs_to_hcare in...
January 2, 2012 at 4:00 pm
#1427500