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Put cereal into a large bowl. Microwavechocolate chips, peanut butter, and butter uncovered on high 1 minute,or until melted, stir until smooth. Stir in vanila. Pour over cereal, stiring until evenly coated. Pour into bag. either brown bag or 2 gal. zip lock bag. Add powdered sugar and toss gently until well coated. Store in airtight container.
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