After all partnership assets were converted into cash and all available cash distributed to creditors, the ledger of the Daniel, Eric, and Fred partnership showed the following balances:
The...

After all partnership assets were converted into cash and all available cash distributed to creditors, the ledger of the Daniel, Eric, and Fred partnership showed the following balances:





The percentages indicated are residual profit and loss sharing ratios. Personal assets and liabilities of the partners are as follows:





The partnership creditors proceed against Fred for recovery of their claims, and the partners settle their claims against each other in accordance with UPA.