The Pan knob controls whether a track is heard from the left, right, or center of the stereo field (pan is short for panorama). You can set the pan or balance position for each track in a project.
In the track header, drag the Pan knob counterclockwise to pan to the left, or clockwise to pan to the right. The “dot” on the wheel indicates the position.
Note: You might have to resize the track header to see the Pan knob.
Option-click the Pan knob to return it to the center position.