X And y are partners on the date of dissolution of firm X’ s loan was ₹15000 and Mrs Y’ s loan was ₹ 28000. Payment will be made first to
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At the time of dissolution first payment will be made to external liabilities and thereafter partner's loan and if remaining any then partner's capital.
so in this case based on information available, both are loan amount and hence paid to both in equal importance.
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First paid to Mrs. Y Loan then paid to Mr. X Loan
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