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Doughnuts:Preheat oven to 425F. Spray Doughnut Pan with vegetable cooking spray.
In large bowl, sift together flour, sugar, baking powder, nutmeg and salt. Add buttermilk, eggs and butter. Beat until just combined. Fill each pan cavity approximately 2/3 full.
Bake 7-9 minutes or until the tops of the doughnuts spring back when touched. Let cool in pan 4-5 minutes before removing. Doughnuts are best served fresh.
Vanilla Glaze: In small bowl, stir together sugar, milk and vanilla extract until sugar is completely dissolved. Use immediately to glaze donuts.