Do Vishnu’s Avatars Inherit Karma? Questions on Reincarnation and Divine Justice

If karma determines what happens in the next life, then how did the later avatars of Vishnu take birth while Parshuram Ji, an earlier avatar, is still alive? Parshuram Ji, being a *Chiranjeevi*, must still be accumulating karma. If he never "died" in the human sense, then how could Shree Ram and later Shree Krishna be born? Shouldn’t the karma of one avatar be resolved before the next one appears? If karma passed from Shree Ram to Shree Krishna, then how does it work when an earlier avatar like Parshuram still exists? And did this karmic cycle begin from Matsya Avatar and continue onward?