JDK with Cocos Code IDE

I have a Mac and I was following this tutorial: https://www.youtube.com/watch?v=Tvcvw4wfJ34
but when it got to 5:20, I was unable to add Cocos Code IDE.app/jdk/bin to the JDK Location.

I installed Cocos Code IDE v1.2.0 with JDK v7 from: http://www.oracle.com/technetwork/java/javase/downloads/jdk7-downloads-1880260.html

Has anyone come across this issue before? Is it even an issue or can I continue developing for Android without really setting the JDK location/path? Does it have to do with setting the JAVA_HOME? I am planning to develop using Cocos2d-JS.