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In this Excel 10 tutorial, the instructor demonstrates how to add and remove strikethrough formatting in Microsoft Excel. The process begins by selecting the desired cells, then clicking the arrow button to open the Format Cells dialog box. Under the "Effects" section, the strikethrough option can be checked to apply the formatting. To remove the strikethrough, the user can access the same dialog box, uncheck the option, and click OK. The tutorial emphasizes the simplicity of this function, and the instructor encourages viewers to subscribe and check out additional resources, including a playlist on Excel VBA.