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Preheat oven to 450 degrees F.
Mix Bisquick, sugar and butter or margarine until crumbly. Add milk; mix until dough forms. Beat 15 strokes. Put 1 tablespoon dough into each of 12 muffin cups; top with 1 teaspoon preserves; place remaining dough on top of preserves. Bake until golden brown, 10 to 15 minutes.
Remove from pan. While warm, spread with Vanilla Glaze.
Makes 12 biscuits.
Vanilla Glaze
1/2 cup confectioners' sugar
1 tablespoon warm water
1/2 teaspoon vanilla extract
Combine all ingredients.