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 A 20X5 Year 20X6 20X7 Legal Claim Established Legally Usable Cash Collected in first 60 days B Legal Claim Cash Collected in first 60 days Established Legally Usable C Legal Claim Established Cash Collected after first 60 days Legally Usable Cash Collected in last 60 Legal Claim Established D days E F Legally Usable Legal Claim Established Legally Usable Legal Claim Established Legally Usable Cash Collected in first 60 days Cash Collected after first 60 days