[Solved] Quick action to create lookup parent record

SFDC Dev 27 Asks: Quick action to create lookup parent record
Is is possible to create a Quick Action on a child record to create record for an object that is a lookup parent to the child?

I have various examples of having such QA as “Create Opportunity” on Account, but my use case demands the ther way round, so e.g. “Create Account” QA on a Contact (might not be the greatest example but somewhat similar is my requirement, using custom objects). Please can someone let me know if this is even possible, and any helpful links?

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