Final answer:
Upon receipt of a fire truck purchased with General Fund revenues, the 'Expenditures' account in the General Fund should be debited, reversing the initial encumbrance and reflecting the actual expenditure for the fire truck.
Step-by-step explanation:
When a fire truck is purchased using General Fund revenues, the account that should have been debited in the General Fund is typically the 'Expenditures' account. Prior to receiving the fire truck, an encumbrance would have been recorded to indicate the commitment to purchase the truck. Once the fire truck is received, the encumbrance entry is reversed and an actual expenditure is recorded. Encumbrances are important in governmental accounting as they represent the amounts earmarked for specific purchases before the actual expenditures occur.
In summary, the receipt of a fire truck would trigger the following accounting entries in the General Fund: reversing the encumbrance and recording the expenditure. Both entries impact the General Fund's financial statements, ensuring the accountability and proper tracking of tax base funded assets like emergency vehicles provided by the fire department.