Preparation / Directions:
Preheat oven to 350 degrees. Line two 8 inch round cake pans with parchment paper or waxed paper. Sift together the flour, baking powder and salt. With an electric mixer at medium speed, cream together margarine, vanilla and almond extract until fluffy. Gradually add sugar, beating constantly. Add egg; beat until mixture is fluffy. Then, stirring with a spoon, add the dry ingredients alternately with milk, stirring after each addition until batter is smooth.
Turn into the prepared pans. Bake 25-30 minutes or until done. When cool spread the strawberry jam between the layers. Spread whipped topping on the top. Store in refrigerator until just before serving. If you want you can add a drop of red food coloring to the whipped topping before putting it on top of cake.