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In this Excel tutorial, the presenter explains 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 the formatting. To remove the strikethrough, access the dialog box again, uncheck the strikethrough option, and click OK. The tutorial emphasizes that this is a simple function that many users may overlook. The presenter encourages viewers to subscribe for more tutorials and mentions a playlist for learning Excel VBA.