On the first day of the financial year Pizza Hut Ltd purchased a van for $20 000. The van is to be depreciated by 25% each year and has a zero residual value. At the end of the first year the adjusting entry to record depreciation on the van is:

Select one: DR Depreciation - Van $5000; CR Accumulated depreciation - Van $5000 DR Accumulated depreciation - Van $5000; CR Depreciation - Van 5000 DR Depreciation - Van $20000; CR Accumulated depreciation - Van $20000 DR Depreciation - Van $5000; CR Van $5000