Your queries could be something along the lines of:
SELLECT * FROM FriendTable WHERE (Friend1_ID = 'user_id' AND Accepted = 'y') OR (Friend2_ID = 'user_id' AND Accepted = 'y')
That would cover the user's own friend list as well as any friends they've accepted requests from. (This setup assumes a friend accept automatically creates a two way friendship)
You can get more detailed in the structure, depending on how much of what you want to cover, but in it's simplist form, this is how I'd go about doing it.