Cannot Select Party Type and Party in Journal Entry

Frappe Framework
3

I am also seeing Create a new DocType as the only option for Party Type when creating a journal entry.

Similar questions asked but unanswered:

  1. Party type for expense claim
  2. [Not an issue] Wrong link for creating new Party Type
  3. How can I use party type?
  4. How to Attach Party to Non-Receivable/Payable Account in Journal Entry

The first in the list suggests altering the Python code for Journal Entry!!

I do see hints that Party Type can only be selected for the Company default Receivable and Payable accounts. If I am right about that, I’d really appreciate an explanation of why that constraint has to be there.

If there is a explanatory article or video somewhere I would be glad to know.
Thanks

erpnext 13.39.2
frappe 13.41.3