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Default Truncate

I've never used this function before and frankly read all the instructions
and still dont understand it. I have a customer that doesn't want more than
200 characters in his field, presently there are many cells with over the
200. I was told by him to do this function, as a customer I didnt want to
keep asking anymore questions.

Is there a way someone can explain "as if Im 5" how to do this funcition?
Thank you so much
 
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