This is the Wonderful Exchange

"[We] cannot be condemned for our sins, from whose guilt he has absolved us, since he willed to take them upon himself as if they were his own. This is the wonderful exchange which, out of his measureless benevolence, he has made with us; that becoming Son of Man with us, he has made us sons of God with him; that by his ascent to earth, he has prepared an assent to heaven for us; that by taking on our mortality, he has conferred his immortality upon us; that, accepting our weakness, he has strengthened us by his power; that, receiving our poverty unto himself, he has transferred his wealth to us; that, taking the weight of our iniquity upon himself (which oppressed us), he has clothed us with his righteousness."

--John Calvin, Institutes of the Christian Religion, 3.11.10 

Only One Penance

“I finally, this evening, confessed my sins and got to work somewhat. It seems so utterly hypocritical to go on as though no sin had been committed without some kind of penance, but God says there is only one penance—Jesus’ sacrifice on Calvary, Jesus’ blood. I plead it and go on, knowing that I shall fall again”

--Tom Carson, quoted in Memoirs of an Ordinary Pastor, D.A. Carson.