Preheat oven to 325°F. Spray pan with baking spray for baking; set aside. In a small bowl, combine flour, baking soda, baking powder, cinnamon, salt, and cloves; set aside. Cream butter and sugar until light and fluffy. Add eggs one at a time, beating well after each addition. Add flour mixture and applesauce to butter mixture alternately, starting and ending with flour. Mix just until combined. Fold in nuts and raisins. Pour into prepared pan.

Bake 50-60 minutes or until cake tester comes out clean. Cool 15 minutes in pan, invert onto cooling grid; cool completely. Sprinkle cake with confectioners' sugar. Serve with whipped cream, if desired.