Creating clips out of long imported video
My second week in Premiere Pro, and I've watched the tutorials, but can't figure out how to take a five minute video I imported and make individual clips of it. I see the razor tool; is that what I use in the timeline to cut the clips? Can I then put them in the Project area?
My other question: what is the difference between a sequence and a clip? I'm just basically moving clips over to the timeline. What is the value of creating a sequence?
Thanks for any help!