Instructions: Preheat oven to 375. In a small bowl, combine flour, baking powder, baking soda and salt; set aside. In a large bowl, combine butter, brown sugar, eggs and water; beat until creamy. Gradually add flour mixture. Stir in natural cereal and Peanut Butter Morsels. Drop by rounded measuring teaspoonfuls onto ungreased cookie sheets. Bake 8-10 minutes.

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