In a large bowl (or the bowl of a stand mixer), cream together the butter and 3/4 C of the granulated sugar until light and fluffy
Beat in the egg, jam, vanilla extract, almond extract, and red food coloring
Gradually add in the the dry ingredients, flour, baking powder, and salt until well combined and a dough is formed
Stir in the chocolate and dried cherries until evenly distributed throughout the dough
Cover bowl with plastic-wrap and place into the refrigerator to chill
Chill the dough for these cherry chocolate chip cookies for at least 30 minutes. The dough can also be chilled overnight if that is best for your schedule
When ready to bake, preheat the oven to 375°F, and line cookie sheets with parchment paper
Scoop dough into 1 tablespoon-sized portions and roll into a ball. Dip each ball first into granulated sugar to coat, and then into powdered sugar to coat. Shake off any excess powdered sugar
Place dough balls 2 inches apart on the lined baking sheets
Bake for 13-15 minutes, until cracked and just dry on top*
Allow the cookies to cool for a few minutes on the baking sheet and then transfer to a wire rack to cool completely.
Store. Store cooled cookies in an air-tight container.