In a large bowl, whisk together 1 and 1/2 cups of flour, baking powder, and salt. Set aside. In the bowl of your standing mixer fitted with the paddle attachment, combine the butter and sugar together and beat, on medium-high speed, until fluffy, about 2-3 minutes. Add the eggs, one at a time, mixing well after each addition. Reduce the mixer speed to low, and alternate adding half of the flour mixture and half of the Cherry 7-Up, mixing well and scraping down the sides of the bowl as necessary. Repeat until the flour and Cherry 7-Up are completely added to the batter. Add the vanilla and almond extracts, mixing well.