You're correct that the account you chose to inactivate will show as deleted, @Bravura.
Merging accounts expedites financial reporting, cuts down on redundancy, and simplifies your chart of accounts by merging duplicate accounts in QuickBooks. This inactivates the duplicate and transfers all the data into the one you wish to maintain. QuickBooks then transfers the transactions from the duplicate account to the one you choose to preserve.
See this article for more information about merging accounts or profiles in the application: Merge duplicate accounts, customers, and vendors in QuickBooks Online.
Stay in touch if you have further questions about managing accounts or any QuickBooks-related topics. The Community always has your back. Take care!