Preheat oven to 350°. Spray a 9 x 13" baking pan, or grease and flour a bundt pan.
In a large mixing bowl, cream the butter. Add the sugars and beat well.
1/2 c. butter (1 stick), softened, 1 c. white sugar, 1 c. brown sugar
Add the egg and yolk. Mix well.
1 egg, plus 1 yolk
Add the applesauce and milk. Mix.
2 c. applesauce, 1/2 c. milk
In a separate bowl, mix the dry ingredients. Add the dry ingredients to the wet and mix on medium/low speed until incorporated.
2 1/2 c. all-purpose flour, 1 1/2 tsp. baking soda, 1/2 tsp. baking powder, 1 1/2 tsp. salt, 2 tsp. ground cinnamon, 1/2 tsp. ground cloves, 1/2 tsp. ground allspice
Stir in the chopped nuts and raisins.
1 c. chopped walnuts or pecans, 1 c. raisins, optional
Pour the mixture into your greased pan and bake until a toothpick comes out with only a few dry crumbs. Bake a 9 x 13" cake for about 40 minutes, but it will take about 55 minutes for a bundt cake.
Cool and enjoy. Dust the top with powdered sugar or top it with your favorite frosting.