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Default time cards

I need a formula or if someone could send me a template would be great!!
I need to enter time from a time clock and get the total number of hours and
minutes worked. it has to give me the total in time. (40 hours and 14
minutes) or what ever. but it has to let me put in like this:
IN : 7:50 AM out: :12:00 pm IN 12:31 pm OUT 5:02 pm and then give me a total
for that day in time frames of 60 minutes

any help?????????????

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