1Preheat oven to 350 degrees. Adjust the rack to the middle of oven. Spray three 9-inch round pans or two 10-inch with baking spray.
2Using a electric mixer, cream the butter and sugar until light and fluffy. Add the eggs one at a time, beating well after each addition. Add the flour and milk alternately to the creamed mixture, beginning and ending with flour. Add the extracts and continue to beat until just mixed. Then fold in the pecans.
3Divide the batter equally among the prepared the pans. Level the batter in each pan. Bake until golden brown, 30 to 35 minutes but do test for doneness. Cool the cake completely before frosting.
In a large bowl, blend cream cheese and butter with mixer. Gradually add the powdered sugar and beat until light and fluffy. Beat in the extract. Stir in pecan or sprinkle over the cake. Frost the cake when layers are completely cool. ENJOY!