The first things we need to know in order to be able to help are what are your operating system and audio device?
Also the FAQ Setting the Sample Rate in Windows Vista and 7 may help.
Thank you - the link you included took me to the one place I would have never thought to look and I have been spent many valuable hours searching the ins and outs of Audition. I can now use my microphone however it is only recording on the left channel in mono.....will it be saved in stereo? My work is for radio commercials. Thank you, cbauer
Unless it's specifically a stereo mic (which I doubt, as the vast majority aren't) your microphone is only a mono device anyway, so you only need one channel to record on. If you want the same signal on both channels of a stereo file, you either have to copy and paste one channel to the other, or use the channel mixer function, which can do the job more quickly using a preset.