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In this Excel 10 tutorial, the speaker demonstrates how to add and remove strikethrough formatting in Microsoft Excel. To apply strikethrough, select the desired cells, click the arrow button to open the "Format Cells" dialog box, and check the strikethrough option under "Effects." After clicking OK, the selected cells will display the strikethrough. To remove it, repeat the process, unchecking the strikethrough option, and clicking OK again to return the cells to normal. The tutorial encourages viewers to subscribe and check out additional resources, including a playlist on Excel VBA.