1. Heat the water and milk in a small pot until it reaches 105-110 degrees. Pour the yeast into a large bowl attached to a stand mixer with the dough hook attachment. Pour the warmed milk and water mixture over the yeast and let it activate for 5 minutes. 
2. Whisk together the flour, salt, and sugar in a medium bowl. 
3. Whisk the egg into the water, milk, and yeast. 
4. Add in the flour mixture, vanilla and almond extracts, and the honey to the bowl and mix until a dough forms.
5. Add in the softened butter one tablespoon at a time and only add in the next tablespoon after the previous one has been fully incorporated. 
6. Keep kneading on the dough hook until enough gluten has formed to pass the windowpane test (see notes in the blog post) 5-10 minutes. 
7. Transfer to a large, lightly oiled bowl, cover with plastic wrap and let rise until it's doubled in size. 1-2 hoursdepended on how warm your kitchen is.
8. Roll the dough out on a floured surface until it's ½ - ¼ inch thick. 
9. Cut out circles with a 2 inch round cutter and place each donut on its own individual 4x4 square of parchment. 
10. Let rise again for 30 minutes. 
11. While the dough is rising, add the vegetable oil to a large pot and heat to 375 degrees. 
12. Once ready, add 3-4 donuts to the oil and cook on each side for 2-3 minutes or until they are golden in color. 
13. Remove from the oil and let cool on a plate lined with a paper towel. Once cooled, roll through sugar. 

For the dipping sauce

1. Start by adding the cut strawberries and sugar to a medium pot. Heat on medium/medium-low until the strawberries have softened (10-20 minutes, depending on how ripe the strawberries are). 
2. With an emersion blender (or add the mixture to a blender) and blend until smooth and there are no lumps left.
3. Next, mix in the bourbon and vanilla and let cool before serving.
4.  
5. The donuts will keep in an air-tight container for up to two days, and the sauce will keep for 1 day sealed in the fridge.