Word2k: Formatting a .TXT file.

I usually cut and paste .txt file and .html to word because some of these documents is worth keeping. Oftenly most .txt file has a carriage return at the end of each sentence or they are really long in ONE line.

How can I make it in word 2000 after I copy to word to make it to a paragraph form and omit the carriage return at the end of every line?