This recipe does breakfast right, pairing a beloved staple — French toast — with the delicious combination of peanut butter and jelly.
Combine the first 5 ingredients in a medium shallow dish, stirring well with a whisk. Place the bread slices on a flat surface. Spread 2 tablespoons of the preserves over 4 of the bread slices, and spread 1½ tablespoons of peanut butter over each of the remaining 4 bread slices. Assemble sandwiches.
Carefully dip 2 sandwiches in the milk mixture, turning to coat. Heat a large skillet over medium-high heat. Add 1½ teaspoons of the canola oil to the pan; swirl to coat. Place the coated sandwiches in the pan and cook for 2 minutes on each side or until they're nicely toasted. Remove the sandwiches from pan and repeat the procedure with the remaining 2 sandwiches, milk mixture, and oil. Sprinkle powdered sugar evenly over the sandwiches and cut each sandwich in half diagonally.