My ten year old but limited use Frigidaire dryer has a high squeal pitch as well as a loud clunking sound when in use. Can this all be fix by replacing the rear bearings?

You need to disassemble the unit and check the parts for wear then replace or lubricate the appropriate parts.

Frigidaire is the worst for this. Try replacing the rear drum bearing kit and greasing it. I to have had one for over ten years and the bearing has had to be replaced 6 times. Current cost for this bearing kit is around $30 for parts. Its pretty simple to replace. I've even showed my wife how to do it but she says that's why she has me. Go to website and find Frigidaire and Model number it will have how to and parts. I have it on favorites I've had to use it so much. Try Appliance parts, electronics parts & more from PartStore.com

You are lucky! Mine started making so much noise after only 3 months that I am looking for a replacement (another brand). Aparently Frigidaire only makes crap. I won't be buying anything else from them.