Converting Data in Irregular Time Intervals into Regular Time Intervals

Hello,

I am having difficulty putting the data I have in a way that is easily analyzed. I need a function that can change the recorded data in irregular time intervals into a separate sheet which puts the data into 1-min or 5-min intervals. The data represents the time that a piece of machinery turns "on" or "off", designated by a "1" or "0" respectively.

For example, the data I have looks like:

A................B.....................C
Date...........Time..............On/Off
1/12...........12:00:00...........1
1/12...........12:03:00...........0
1/12...........12:07:00...........1

And I need to change it into:

A................B.....................C
Date...........Time..............On/Off
1/12...........12:00:00...........1
1/12...........12:01:00...........1
1/12...........12:02:00...........1
1/12...........12:03:00...........0
1/12...........12:04:00...........0
1/12...........12:05:00...........0
1/12...........12:06:00...........0
1/12...........12:07:00...........1

etc.

I'm not sure if a Macro is needed for this application, or if there is another excel trick to perform this task. Any help will be appreciated, thank you.