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Default Greater than/Less than a certain Time

Hello,

I've got a helper column (column B) with a formula that looks at a
time stamp in column A. I'm trying to get each cell in column B to
say Yes if the time in the adjoining cell in column A is earlier than
3:30 pm, and No if it's later than 3:30 pm. What I currently have is
below, but this returns the error message #NAME?

=IF(K2="","",IF(K2<3:30 PM,"yes","no"))

I also tried putting the desired cutoff time in quotes (as below), but
that returns 'no' no matter what time is in the cell.

=IF(K2="","",IF(K2<"3:30 PM","yes","no"))

What do I need to change to make this work? Thanks.

Frank
 
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