At the time of dissolution of firm, at which stage the balance of partner's capital accounts is paid?

After making the payment to third party's loans Before making the payment of partners in respect of their loans After making the payment to third party for their loans as well as partners loans None of the above

After making the payment to third party for their loans as well as partners loans

At the time of dissolution of firm, the balance of partner's capital accounts is paid after making the payment to third party for their loans as well as partners loans.