When a record gets renewed, you can still access that record's past workflows, documents, application details, etc.  If you are in a renewal record page and you click on the word "Renewal" next to the record number, a screen will populate in which you can view any edition of the record and then click on the record number to open the desired edition. See example below: 

• The "#" Column on this screen will display whether the record number is the original version or a renewal number (so if the number is 1, that will be for the first renewal, 2 for a second renewal, etc.).  The current version of the record will have the word "Latest" next to it.  This will apply regardless of how many times a record is renewed.