I was having trouble with a transaction log file that had unrestricted growth set. I needed to get it down to a good size without killing my disk space. So below is the script I used to shrink the transaction log after it had gone a little wild with size.
backup
log 'yourdatabasename' to disk ='D:\YourdatabaseName.trn'
go
dbcc
shrinkfile (yourdatabase_logfilename,1)
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