In a large mixing bowl, combine the warm heavy cream, whole milk, and granulated sugar. Sprinkle the active dry yeast over the mixture and let it sit for about 5 minutes, until frothy.
In another bowl, whisk together the all-purpose flour and kosher salt. Gradually add the dry ingredients to the yeast mixture, stirring until a dough forms.
Transfer the dough onto a floured surface and knead for about 5-7 minutes until smooth and elastic. Place the dough in a greased bowl, cover with a kitchen towel, and let it rise in a warm place for about 1 hour or until doubled in size.
Once the dough has risen, punch it down and roll it out to about ½ inch thick. Use a donut cutter to cut out the donuts and holes. Place them on a floured baking sheet.
In a large pot, heat oil over medium heat to 350°F (175°C). Use a frying thermometer to maintain the temperature.
Carefully place the donuts in the hot oil, a few at a time, and fry until golden brown, about 1-2 minutes on each side. Use a slotted spoon to transfer them to a cooling rack.
For the vanilla glaze, whisk together the powdered sugar, vanilla extract, and milk until smooth. For the chocolate glaze, mix the powdered sugar, cocoa powder, salt, vanilla extract, and whole milk until combined.
Once the donuts are cool, dip the tops into the glaze of your choice, allowing any excess to drip off. Let the glaze set for a few minutes before enjoying!
