A company had the following information in its long-term liabilities section on the balance sheet: December 31, 2017 December 31, 2016 Notes payable $180,000 $220.000 During the year, the company made principal payments of $65,000 on its notes payable. Based on this information, determine the amount of new borrowings on notes payable that would appear on the statement of cash flows as "Proceeds from Issuance of Notes Payable