Drop the student from the course. This will remove all grade and enrollment history for this course for the student.

OR

If you want to retain the grade, but keep it from showing on the transcript:
  1. In Records, Courses, open the course record.
  2. On the Grading tab, open the academic year that the student took the course.
  3. Unmark the checkbox to Print on Transcripts.
  4. Save and Close the course record.
  5. Rerun the transcript for the single student.
  6. Repeat steps 1 and 2.
  7. Mark the checkbox to Print on Transcripts again for other students.
  8. Save and Close the course record.