Quicktime how to seek to specific time

The bar that displays the time for a media item in Quicktime is very narrow, even when the window is full screen. Therefore, clicking and dragging the time marker makes seeking to a precise time difficult. How to seek to a precise time (by typing it in) in an audio or video?

If not possible, would Apple please build in this feature...this will make the user experience much better, especially for media that is 1 hr+.