“And you, who were dead in your trespasses and the uncircumcision of your flesh, God made alive together with him, having forgiven us all our trespasses, by canceling the record of debt that stood against us with its legal demands. This he set aside, nailing it to the cross” (Colossians 2:13–14 ESV).
“There is no salvation by balancing the records. There is only salvation by canceling records. The record of our bad deeds (including our defective good deeds), along with the just penalties that each deserves, must be blotted out—not balanced. This is what Christ suffered and died to accomplish.”
(John Piper, Fifty Reasons Why Jesus Came to Die [Wheaton: Crossway, 2006] p. 33).
The rest of the above referenced book can be downloaded for free as a PDF. This book makes a great devotional for daily Lenten meditations.