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Step 1
In a large bowl, cream butter and sugar until light and fluffy, 5-7 minutes. Beat in egg and vanilla. In another bowl, whisk flour, baking powder and salt; gradually beat into creamed mixture. Refrigerate, covered, 1 hour.
Step 2
Divide dough in half. Add cherry extract to 1 half and tint red. Knead almonds into remaining half. Wrap each half; refrigerate at least 3 hours or until firm enough to roll.
Step 3
On a baking sheet, roll each portion between 2 sheets of waxed paper into a 15x8-in. rectangle. Refrigerate 30 minutes.
Step 4
Remove waxed paper. Place almond rectangle on top of cherry rectangle. Roll up tightly jelly-roll style, starting with a long side. Roll in coarse sugar; wrap securely. Refrigerate 2 hours or until roll is firm.
Step 5
Preheat oven to 375°. Unwrap and cut dough crosswise into 1/4-in. slices. Place 2 in. apart on greased baking sheets. Bake 10-12 minutes or until set. Remove from pans to wire racks to cool completely. Store in airtight containers.