CS5 - Sequence Stereo to Mono

In using Premiere Pro CS5 on a Mac, I know that if I have a clip I can click it and select the menu Clip --> Audio Options --> Breakout to Mono to take a stereo (or presumably 5.1 set-up) to mono. What about if the clip is already in a sequence and I want to break up the audio in the sequence (i.e. -- I have a piece edited together, and I hear a blip that I want to fix by removing one of the stereo channels and make it a duplicated mono signal/just get rid of one channel)? Is there any way to do that?

Thanks,
Mike