What happens to transactions once an initiative is moved from Preview to Active mode?

Preview mode can be used in an event, form, or other initiative to allow for test transactions to be entered. Once the initiative is switched to Active (live) mode, what happens to these transactions?
When Active mode is enabled, all transactions excluding sponsorships entered in Preview mode will be wiped out within 24 hours.
Note: If it has been more than 24 hours and test transactions are still appearing, Chat with Support and reference this article. 

Environment

 Blackbaud Sphere

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