Creasy's monthly general and administrative expenses include $10,000 in administrative salaries and 0.3% monthly interest on the long term note payable. The long term note payable has a balance of $500,000 on June 30. Creasy is not budgeting any addition borrowing or repayment of the note during budgeted quarter.

Prepare the General and Administrative Budget.

General and Administrative Budget

G&A	July	August	September
Administrative Salaries	10,000		10,000
Long Term Note Interest Expense
Total G&A Budget