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Checking a box sets a value in a dropdown list field
I have a sheet with a checkbox called "Qtly" and another dropdown field called "Lead Status" -- the values in the dropdown are: No Lead, Lead, Active Lead, and Deal.
I am trying to figure out a formula for when the "Qtly" checkbox is checked, that the value in the "Lead Status" dropdown field automatically gets set to "Lead".
Thanks in advance!