Preheat the oven to 350°F (175°C). Grease and flour a 9-inch round cake pan.

In a medium bowl, combine the sliced strawberries with 1/4 cup of granulated sugar. Set aside to macerate for about 15 minutes.

In a large mixing bowl, beat the softened butter and remaining 3/4 cup of granulated sugar together until light and fluffy, about 3-4 minutes. Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.

In another bowl, whisk together the flour, baking powder, and salt. Gradually add the dry ingredients to the butter mixture, alternating with the milk. Mix until just combined.

Pour the batter into the prepared cake pan and smooth the top. Bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean. Allow the cake to cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.

While the cake is cooling, whip the heavy cream with the remaining 1/4 cup of sugar until stiff peaks form.

Once the cake is completely cooled, spread the whipped cream over the top. Spoon the macerated strawberries over the whipped cream. Dust with powdered sugar if desired.