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In this Excel 10 tutorial, the presenter demonstrates how to add and remove strikethrough formatting in Microsoft Excel. To add strikethrough, select the desired cells, click the arrow button to open the Format Cells dialog box, and check the strikethrough option under the Effects tab. After clicking OK, the selected cells will display a strikethrough. To remove the strikethrough, repeat the process, unchecking the strikethrough option before clicking OK. The tutorial emphasizes the simplicity of this function, encourages viewers to subscribe, and references a playlist for learning Excel VBA.