Acquiring assets by taking on debt is one way you can accumulate assets. And many of these loans will fall into the category of long-term liabilities. But, in order to present them on the balance sheet correctly, the following must be known about the loan. Complete each statement as it applies to loans. • Loans: Regardless of the type of loan, only the is shown on the balance sheet. • The loan balance is not what is currently owed but what . • Loan amount: The portion of a loan listed as a liability on the balance sheet is only the .