Let's say I own a company that sells fidget spinners. I know, they're out of vogue, but we'll bring them back for the purpose of this discussion.

I have two very, very brief scenarios that I need to account for within QuickBooks Online. How would I work so? Just briefly touch on how you would do this within the software. A couple sentences is perfect to answer each question.

1. I am introducing a new product titled "Ultimate Glow Spinner." It sells for $5. How would I add it as a product within QuickBooks Online?

2. A customer prepaid for $2,000,000 worth of fidget spinners (he's obsessed). There was an initial journal entry to record the unearned revenue. What would my entry to recognize the revenue? How can I input the entry in QuickBooks?