Preheat oven to 350°F, with rack positioned in the middle. Lightly grease and flour a 9-inch spring form pan, or 6 cup mini loaf or round cake pan.
In a medium skillet over medium heat, add apricot preserves, sugar, Grand Marnier, 1/4 teaspoon salt and apricots. Cook until the fruit softens and juices are reduced to a thick syrup, about 5 minutes.
In a large bowl, add flours, baking powder, and remaining 1/4 teaspoon salt; whisk to combine. Set aside.
In the bowl of a stand mixer fitted with a paddle attachment, add butter and sugar. Whip on medium speed until light and fluffy, stopping to scrape down sides of bowl as needed. Add eggs, vanilla, and almond extract; whip until smooth. Add dry ingredients and mix just until well combined.
Transfer batter to prepared pan or pans. Using a small off-set spatula, spread batter evenly to pan edges and smooth surface. Evenly distribute apricot mixture over surface of batter; leaving a 1/2-inch border. Bake until cake is golden brown and cooked through, but still very moist, about 30 minutes for individual cakes and 40 to 50 minutes for a 9-inch pan. Run a paring knife around sides of cake to loosen. Cool on a wire rack to room temperature. Dust with confectioners’ sugar. Cut as needed, and serve by itself or with lightly whipped cream or vanilla ice cream.
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