Preheat the oven to 350ÂºF. Coat a 9-inch round cake pan with nonstick cooking spray. Cut a circle of parchment paper to fit the pan bottom and place it inside; then spray the paper. Set aside.
Sift the dry ingredients into a large bowl. In the bowl of an electric mixer, beat the egg, molasses, sugar, and melted butter until thick. Gradually mix in the dry ingredients in 3 batches, alternating with the buttermilk. Beat for 1 minute after each addition to incorporate the ingredients and strengthen the cakeâ€™s structure. Mix until the batter is smooth.
Pour the batter into the prepared cake pan and smooth down the top of the batter until even. Bake for 35 to 40 minutes or until a wooden toothpick inserted into the middle of the cake comes out clean.
While the cake is baking, combine the ingredients for the cranberries in a large pot. Bring to a boil over medium heat. Simmer for 20 minutes, stirring occasionally. Allow the cake to cool completely before removing it from the pan, then slice it in wedges. Serve with the cranberries and whipped cream.
Edited: October 12th, 2009