Create a module and insert the following function:
Public Function FirstFriday(SelectDate As Date) As Integer
If WeekDay(SelectDate) = vbFriday And Day(SelectDate) < 7 Then
FirstFriday = True
FirstFriday = False
Call the function (IIF example):
IIf(FirstFriday(DATEENTERED) = True, "Yes it is the First Friday of the month", "No it isn't")
Hope it helps.