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Default Excel / Formatting a Cell / Setting a string range

Hello,

Is there anyway to format a cell such that it can have the inputs of
'Y' or 'N'?

At the moment when I tie in a the output from a drop-down menu to a
particular cell, it seems to be converting the 'Y' and 'N' to a '1' and
'2'. It like to keep it at 'Y' and 'N'.

I am assuming that because it would be taking binary inputs, you could
actually act to convert the '1' and '2' to the corresponding 'Y' or 'N,
by writing a simple macro. But I figure there should be a simpler way...

 
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