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In this Excel tutorial, the presenter demonstrates how to add and remove strikethrough formatting in Microsoft Excel. To apply strikethrough, select the desired cells and click the arrow button to open the Format Cells dialog box. Under the "Effects" section, check the strikethrough option and click OK to apply. To remove the strikethrough, repeat the process, unchecking the option before clicking OK again. The tutorial emphasizes the simplicity of the function and encourages viewers to subscribe for more videos, including a playlist on Microsoft Excel VBA.