The Paris Water Company has 200,000 Common shares outstanding in 2020. On November 8 the Board of Directors declares a 1% share dividend, to be issued on November 30 to shareholders of record on November 15.

The value in the Common Shares account is $1,000,000, the price per share on November 8 is $10.00 and on November 30 the market value is $9.50.

With this information, calculate the values required and fill in the following journal entry:

Nov 30 Common Share Dividend Distributable Blank 1

Common Shares Blank 2

Blank 3 shares issued