Presented below is the comparative balance sheet for Diatessaron Inc., a private company reporting under ASPE, at December 31, 2021, and 2020:

DIATESSARON INC. Balance Sheet December 31
Assets		2021			2020
Cash		$67,000			$98,000
Accounts receivable		101,000			75,000
Inventory		205,000			155,500
Long-term investment		101,500			0
Property, plant, and equipment		535,000			460,000
Less: Accumulated depreciation		(162,500	)		(140,000	)
		$847,000			$648,500
Liabilities and Shareholders' Equity
Accounts payable		$57,500			$47,000
Dividends payable		6,000			0
Income tax payable		14,000			15,000
Long-term notes payable		25,000			0
Common shares		630,000			525,000
Retained earnings		114,500			61,500
		$847,000			$648,500

DIATESSARON INC. Income Statement Year Ended December 31, 2021
Sales					$663,000
Cost of goods sold					432,000
Gross profit					231,000
Operating expenses		$147,500
Loss on sale of equipment		3,000			150,500
Profit from operations					80,500
Interest expense		3,000
Interest revenue		(4,500	)		(1,500	)
Profit before income tax					82,000
Income tax expense					14,000
Profit					$68,000

Additional information:
1.		Cash dividends of $15,000 were declared.
2.		A long-term investment was acquired for cash at a cost of $101,500.
3.		Depreciation expense is included in the operating expenses.
4.		The company issued 10,500 common shares for cash on March 2, 2021. The fair value of the shares was $10 per share. The proceeds were used to purchase additional equipment.
5.		Equipment that originally cost $30,000 was sold during the year for cash. The equipment had a carrying value of $9,000 at the time of sale.
6.		The company issued a note payable for $28,000 and repaid $3,000 by year end.
7.		All purchases of inventory are on credit.
8.		Accounts Payable is used only to record purchases of inventory.

Is it necessary to show both the proceeds from issuing a new note payable and the partial repayment of notes payable? Or is it sufficient to simply show the net increase or decrease in notes payable, as is done with accounts payable? Explain.