diff --git a/oldabe/money_in/__init__.py b/oldabe/money_in/__init__.py
index 4ea51cc..0aa1c89 100755
--- a/oldabe/money_in/__init__.py
+++ b/oldabe/money_in/__init__.py
@@ -30,7 +30,7 @@
 from .price import read_price
 from .equity import write_attributions
 from .valuation import read_valuation, write_valuation
-from .debt import pay_outstanding_debts, create_debts, write_debts
+from .debt import pay_outstanding_debts, create_debts, recalculate_debts, write_debts
 from .advances import draw_down_advances, advance_payments
 from .equity import handle_investment
 
@@ -137,6 +137,10 @@ def distribute_payment(
     return processed_debts, debt_payments, transactions, advances
 
 
+# TODO: the payments within a commit are not ordered.
+# It may be better to sort them chronologically, so that
+# earlier payments are reflected in attributions before
+# later payments are processed.
 def process_payments(instruments, attributions):
     """
     Process new payments by paying out instruments and then, from the amount
@@ -199,9 +203,11 @@ def process_payments(instruments, attributions):
             valuation = handle_investment(
                 payment, new_itemized_payments, attributions, price, valuation
             )
+
+    debts = recalculate_debts(new_debts, new_debt_payments)
+
     return (
-        new_debts,
-        new_debt_payments,
+        debts,
         new_transactions,
         valuation,
         new_itemized_payments,
@@ -221,8 +227,7 @@ def process_payments_and_record_updates():
     assert_attributions_normalized(attributions)
 
     (
-        new_debts,
-        debt_payments,
+        debts,
         transactions,
         posterior_valuation,
         new_itemized_payments,
@@ -232,9 +237,9 @@ def process_payments_and_record_updates():
     # we only write the changes to disk at the end
     # so that if any errors are encountered, no
     # changes are made.
-    write_debts(new_debts, debt_payments)
-    TransactionsRepo().extend(transactions)
+    write_debts(debts)
     write_attributions(attributions)
     write_valuation(posterior_valuation)
+    TransactionsRepo().extend(transactions)
     ItemizedPaymentsRepo().extend(new_itemized_payments)
     AdvancesRepo().extend(advances)
diff --git a/oldabe/money_in/debt.py b/oldabe/money_in/debt.py
index ea3bb41..54eec08 100644
--- a/oldabe/money_in/debt.py
+++ b/oldabe/money_in/debt.py
@@ -12,7 +12,7 @@
 from ..models import Payment
 
 
-def write_debts(new_debts, debt_payments):
+def recalculate_debts(new_debts, debt_payments):
     """
     1. Build a hash of all the processed debts, generating an id for each
        (based on email and payment file).
@@ -22,11 +22,10 @@ def write_debts(new_debts, debt_payments):
        hash, otherwise write the input version.
     4. write the debts that remain in the processed hash.
     """
-    print(new_debts, debt_payments)
     total_debt_payments = Tally(
         (dp.debt.key(), dp.amount) for dp in debt_payments
     )
-    replacement = [
+    return [
         (
             dataclasses.replace(
                 debt,
@@ -37,11 +36,14 @@ def write_debts(new_debts, debt_payments):
         )
         for debt in [*DebtsRepo(), *new_debts]
     ]
-    print(total_debt_payments, list(DebtsRepo()), replacement)
 
+
+def write_debts(debts):
+    """ Write the debts to disk, replacing the existing file.
+    """
     with open(DEBTS_FILE, "w") as f:
         writer = csv.writer(f)
-        for debt in replacement:
+        for debt in debts:
             writer.writerow(astuple(debt))
 
 
diff --git a/tests/integration/old_abe_test.py b/tests/integration/old_abe_test.py
index 8626ec0..8df58ef 100644
--- a/tests/integration/old_abe_test.py
+++ b/tests/integration/old_abe_test.py
@@ -192,6 +192,66 @@ def test_compiled_outstanding_balances(self, mock_git_rev, abe_fs):
             ) in message
 
 
+class TestMultiplePayments:
+
+    # TODO: implement me
+    @time_machine.travel(datetime(1985, 10, 26, 1, 24), tick=False)
+    @patch('oldabe.models.default_commit_hash', return_value='abcd123')
+    def test_generates_transactions(self, mock_git_rev, abe_fs):
+        pass
+
+    @time_machine.travel(datetime(1985, 10, 26, 1, 24), tick=False)
+    @patch('oldabe.models.default_commit_hash', return_value='abcd123')
+    def test_dilutes_attributions(self, mock_git_rev, abe_fs):
+        with localcontext() as context:
+            context.prec = 2
+            amount = 10000
+            abe_fs.create_file(
+                "./abe/payments/1.txt",
+                contents=f"sam,036eaf6,{amount},1987-06-30 06:25:00",
+            )
+            abe_fs.create_file(
+                "./abe/payments/2.txt",
+                contents=f"sam,036eaf6,{amount},1987-06-30 06:24:00",
+            )
+            process_payments_and_record_updates()
+            with open('./abe/attributions.txt') as f:
+                assert f.read() == (
+                    "sid,42\n" "jair,26\n" "ariana,17\n" "sam,16\n"
+                )
+
+    # TODO: why do sam and sri not get into attributions when the amount
+    # is 1000? For higher amounts like 10000 it seems OK
+    # TODO: add a test to check that, even though both sam and sri get
+    # attributed equally, sam gets paid from sri's payment,
+    # but sri doesn't get paid from sam's, assuming sam is first
+    @time_machine.travel(datetime(1985, 10, 26, 1, 24), tick=False)
+    @patch('oldabe.models.default_commit_hash', return_value='abcd123')
+    def test_equal_payment_results_in_equal_share(self, mock_git_rev, abe_fs):
+        with localcontext() as context:
+            context.prec = 2
+            amount = 10000
+            abe_fs.create_file(
+                "./abe/payments/1.txt",
+                contents=f"sam,036eaf6,{amount},1987-06-30 06:25:00",
+            )
+            abe_fs.create_file(
+                "./abe/payments/2.txt",
+                contents=f"sri,b36eaf6,{amount},1987-06-30 06:24:00",
+            )
+            process_payments_and_record_updates()
+            with open('./abe/attributions.txt') as f:
+                assert f.read() == (
+                    "sid,42\n" "jair,26\n" "ariana,17\n" "sam,7.8\n" "sri,7.8\n"
+                )
+
+    # TODO: implement me
+    @time_machine.travel(datetime(1985, 10, 26, 1, 24), tick=False)
+    @patch('oldabe.models.default_commit_hash', return_value='abcd123')
+    def test_compiled_outstanding_balances(self, mock_git_rev, abe_fs):
+        pass
+
+
 class TestUnpayableContributor:
 
     def _call(self, abe_fs):
diff --git a/tests/unit/money_in_test.py b/tests/unit/advances_test.py
similarity index 100%
rename from tests/unit/money_in_test.py
rename to tests/unit/advances_test.py
diff --git a/tests/unit/debt_test.py b/tests/unit/debt_test.py
new file mode 100644
index 0000000..cec8fb7
--- /dev/null
+++ b/tests/unit/debt_test.py
@@ -0,0 +1,10 @@
+from decimal import Decimal
+
+# See integration tests for now.
+
+
+class TestPlaceholder:
+    def test_something(
+        self,
+    ):
+        assert True
diff --git a/tests/unit/equity_test.py b/tests/unit/equity_test.py
new file mode 100644
index 0000000..cec8fb7
--- /dev/null
+++ b/tests/unit/equity_test.py
@@ -0,0 +1,10 @@
+from decimal import Decimal
+
+# See integration tests for now.
+
+
+class TestPlaceholder:
+    def test_something(
+        self,
+    ):
+        assert True
diff --git a/tests/unit/price_test.py b/tests/unit/price_test.py
new file mode 100644
index 0000000..cec8fb7
--- /dev/null
+++ b/tests/unit/price_test.py
@@ -0,0 +1,10 @@
+from decimal import Decimal
+
+# See integration tests for now.
+
+
+class TestPlaceholder:
+    def test_something(
+        self,
+    ):
+        assert True
diff --git a/tests/unit/valuation_test.py b/tests/unit/valuation_test.py
new file mode 100644
index 0000000..cec8fb7
--- /dev/null
+++ b/tests/unit/valuation_test.py
@@ -0,0 +1,10 @@
+from decimal import Decimal
+
+# See integration tests for now.
+
+
+class TestPlaceholder:
+    def test_something(
+        self,
+    ):
+        assert True