|re: This approach eliminates nested if statements, they are confusing to debug...|
Just an FYI for those that aren't aware of these 2 debugging tools:
The "Evaluate Formula" feature under Formula Auditing under the Tools menu can be very useful in debugging Nested If's and other complicated formulae.
Single stepping through a formula can be very enlightening.
You can also highlight a section of a formula in the formula bar and hit F9 to see the result of just that section. The highlighted section must be something that Excel could evaluate if it could stand alone.
For example, in the suggested solution:
you could highlight AND(A1>14,A1<23) and hit F9 to see if it was TRUE or FALSE
Undo or Ctrl-z returns the formula to its original form.