Step 1: Wash and pat the yellow squash completely dry. Slice into 1/4 to 1/2 inch thick rounds. Lay slices on paper towels, sprinkle lightly with salt, and let sit for 10-15 minutes to draw out moisture. Blot dry again with paper towels.
Step 2: In a shallow dish, whisk together the flour, cornmeal (if using), 1 teaspoon salt, black pepper, garlic powder, and paprika until well combined. In another shallow dish, beat the eggs with milk or water to create an egg wash.
Step 3: Set up a dredging station: dried squash slices, then egg wash, then seasoned flour mixture. Working in batches, dip each squash slice into the egg wash, letting excess drip off. Then, dredge thoroughly in the seasoned flour, pressing gently to ensure a complete and even coating. Shake off any excess flour.
Step 4: Heat 1/2 to 3/4 inch of frying oil in a large cast-iron skillet or heavy-bottomed pan over medium-high heat until it reaches about 350-375°F (175-190°C). A pinch of flour should sizzle immediately when dropped in.
Step 5: Carefully place the coated squash slices into the hot oil in a single layer, ensuring not to overcrowd the pan. Fry for 3-5 minutes per side, or until golden brown and crispy. Adjust heat as needed to maintain a steady sizzle.
Step 6: Using a slotted spoon or tongs, remove the fried squash from the skillet and transfer them to a plate lined with paper towels to drain excess oil. Immediately sprinkle with a little extra salt, if desired. Serve hot and enjoy!