@Lubos recently adjusted the Description column in the Unpaid Invoices statement to make it easier to read the Invoice Descriptions:
I agree that it would be nice to see the same Invoice Description information appear in the Transactions statement. Currently, it does not:
The Transactions statement should have a narrow column for Invoice number (which for payments could be either blank or could show the invoice number(s) against which the payment was applied) and a wide column for Description. Alternatively, it could still have a single Description column that could still contain the invoice number, but it should also include the Invoice description field, just like the Unpaid Invoices report does and, interestingly, just like payments do in the Transactions report.