Simply Elegant Steak and Rice

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1-1/2 lbs. tenderized boneless beef round steak
1-1/2 Tbsp. vegetable oil
2 large onions, cut in 1/2-inch slices and separated into rings
1 can (4 oz.) sliced mushrooms (drain; reserve liquid)
1 can (10-3/4 oz.) condensed cream of mushroom soup
1/2 cup dry sherry
1-1/2 tsp. garlic salt
3 cups hot cooked rice

Cut steak into thin strips. In a large skillet (oven-proof, if desired), brown meat in oil, using high heat. Add onions. Saute until tender crisp. Blend soup, sherry, liquid from mushrooms, and garlic salt. Pour over steak. Add mushrooms. Reduce heat, cover, and simmer for 1 hour or until steak is tender. (Or cover and bake at 350°F.) Serve over bed of fluffy rice. Makes 6 servings.