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In this Excel 10 tutorial, the host demonstrates how to add or remove strikethrough formatting in Microsoft Excel. The process starts by selecting the desired cells, followed by clicking the arrow button to open the Format Cells dialog box. Under the "Effects" section, users can find the strikethrough option; checking this box and clicking OK applies the strikethrough to the selected cells. To remove the strikethrough, users can return to the same menu, uncheck the option, and click OK to revert the cells to their original state. The tutorial encourages viewers to subscribe and offers a playlist for learning Excel VBA.