Since military time follows universal time (sometimes referred to as civilian time) with some formatting changes, both are correct. According to the 1884 International Conference for the purpose of fixing a prime meridian and a universal day the day is to "be counted from zero to twenty-four hours". This means that 0000 is midnight at the beginning of the day and 2400 is midnight at the end of the day. (ie 2400 04JUN is the same moment as 0000 05JUN)
In practice, to avoid confusion, most schedules / logs end at 2359 and begin at 0001.
While not in accordance with the standard, you will sometimes see universal time reference end or arrival times as greater than 24:00 (eg open 07:00 to 24:15). You will never see this in military time. The above example would be written as 0700 to 0015.
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