I'm new to all this and balance sheets are extremely confusing.
In this example I've received a £25,000 loan from the bank, it has a fixed interest rate of 6% to be paid over 1-5 years.
This is the only cash I have to finance my business at the moment and I don't have any other assets (2000 cash from personal finance)
So what I'm wondering is, in a balance sheet do I include the 25,000 as a Cash asset as well as putting it in the liabilities as I have to pay that back?
If someone could explain this to me or maybe show me what it would look like in a mini balance sheet I would be super grateful!