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In this Excel 10 tutorial, the presenter demonstrates how to add and remove strikethrough formatting in Microsoft Excel. The process is simple: first, select the desired cells, then click on the arrow button to open the Format Cells dialog box. Under the Effects section, check the strikethrough option, click OK, and the selected cells will have strikethrough applied. To remove the strikethrough, repeat the steps, uncheck the strikethrough option, and click OK to revert the cells to normal. The tutorial encourages viewers to subscribe and mentions a playlist for learning Microsoft Excel VBA.