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In this Excel 10 tutorial, the presenter demonstrates how to add and remove strikethrough formatting in Microsoft Excel. To apply strikethrough, the user selects the desired cells, clicks the arrow button, and opens the Format Cells dialog box. Within the 'Effects' section, the strikethrough option can be checked. After confirming with OK, the selected cells will display strikethrough formatting. To revert the changes, the user can access the dialog box again, uncheck the strikethrough option, and click OK. The tutorial concludes with a reminder to subscribe and a suggestion to check out a playlist on Microsoft Excel VBA.