E5-8 (Revenue Recognition) For each situation outlined in the following chart, explain how the year-end balance sheet and statement of revenues, expenditures, and changes in fund balances of a governmental fund would be affected in 20X5, 20X6, and 20X7. Case 20X5 A Legal Claim Established B Legal Claim C Established Legally Usable Legal Claim Established Legally Usable Year 20X6 Legally Usable Cash Collected in first 60 days Cash Collected in first 60 days Cash Collected after first 60 days Legal Claim Established Legally Usable Cash Collected in last 60 days E F Legal Claim Established Legally Usable Legal Claim Established Legally Usable 20X7 Cash Collected in first 60 days Cash Collected after first 60 days