In Premiere, interpret footage as 50fps, if you drop it on a 23.976 timeline then the clip conforms by dropping or, if chosen, blending frames.
Alternately, if you want to conform it with a tool like Twixtor then the speed difference from 23.976 -> 50 is 208.6%
What happens with RED cameras is you have two settings: frames per second and timebase. Frames per second is what the camera records and timebase is timecode base and speed the file plays back at.
There is no reason to transcode footage before editing as, again, Premiere will auto conform unless you like the blending MPEG Streamclip does.
Audio is framerate agnostic, and it's especially of no concern since the recorder (I assume an H4N) doesn't record a timecode track.
Angelo Lorenzo
Fallen Empire Digital Production Services - Los Angeles
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