CH3CH2CH2OH + Na --> CH3CH2CH2CHONa + H2
Forms sodium butoxide (I think that's what it's called!) and hydrogen gas.
It is an exothermic reaction so it releases heat. Since sodium is more dense than the alcohol, it sinks, but it fizzes a lot, so you will see effervescence and the sodium will dissolve.
The reaction of sodium with an alcohol is very similar to that of sodium with water (in both instances, the OH- group on both acts as an acid, by donating a H+ ion).