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the Georgia Code
2006 Georgia Code - 13-4-42
13-4-42. When a payment is made by a debtor to a creditor
holding several demands against him, the debtor shall have the
right to direct the claim to which it shall be appropriated. If the
debtor fails to do so, the creditor shall have the right to
appropriate the payment at his election. If neither party exercises
the privilege, the law shall direct the application in such manner
as shall be reasonable and equitable, both as to the parties and
third persons, provided that, as a general rule, the oldest lien
and the oldest item in an account shall be paid first, the
presumption of law being that such is the intention of the
parties.
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