1 cup margarine, softened
8 oz regular or reduced fat cream cheese, softened
3 cups all-purpose flour
1/2 tsp. salt
1 Tbsp. sugar
10 oz all-fruit preserves (no sugar added)
In a large mixing bowl, combined margarine and cream cheese; beat until well blended. Gradually add flour, sugar, and salt. Mix well. On a lightly floured surface, shape into a ball or log; cover with plastic wrap and chill for an hour for easier handling.
Preheat oven to 350F. Divide dough into 3 equal parts. On floured surface, roll each section of dough into a rectangle approximately 8x14 inches. Spread ~1/3 of the preserves on the dough. Roll up jelly roll style, beginning with one of the longer sides. Using a sharp knife, slice into half inch slices. Bake, flat side down, on a parchment lined cookie sheet about 1/2 inch apart, for 25-30 minutes or until lightly golden.