The following script only works on SQL Server 2005. “TRUNCATE_ONLY” option is discontinued on SQL Server 2008.
BACKUP LOG <DatabaseName> WITH TRUNCATE_ONLY -- Truncate all inactive log space, this will not reduce the size of log file
DBCC SHRINKFILE('Logical_Log_Name') -- Reduce log file size
-- Do a full backup immediately after running the above command!!
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