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Default Replacing Text for Template

Hi there,

I'm creating a template that I would like to be able to paste data into and
have as much formatting done as possible ahead of time.

With that said, I have a row that contains different types of tender. If
the cell says "Credit Card" I would like it to be replaced with "CC".

I was trying to do this using a formula that would respond as the data is
pasted- could anyone help?
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