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This video tutorial demonstrates how to create an interactive drop-down list in Microsoft Excel that automatically populates text in other areas of the form. By using a VLOOKUP formula, the example shows how to link an invoice with a vendor contact list to pull in the vendor's mailing address and contact information. The process involves setting up a drop-down list to select the vendor, which in turn populates the vendor's details on the invoice. Finally, the tutorial explains how to save the invoice as a PDF and send it to the vendor. The process is straightforward and easy to set up.