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 (100)
Rodney 🙂