1. Preheat your oven to 350°F (175°C) and grease two 9-inch round cake pans.
2. In a large bowl, cream together the softened butter and granulated sugar until light and fluffy.
3. Add the eggs one at a time, mixing well after each addition.
4. Stir in the almond extract.
5. In another bowl, combine the flour, baking powder, and salt.
6. Gradually add the dry ingredients to the wet mixture, alternating with the milk, and mix until just combined.
7. Fold in the chopped maraschino cherries.
8. Divide the batter evenly between the prepared cake pans and smooth the tops.
9. Bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean.
10. Let the cakes cool in the pans for 10 minutes, then transfer to wire racks to cool completely.
11. For the frosting, beat together the softened butter and powdered sugar until smooth.
12. Add the maraschino cherry juice and mix until well combined.
13. Once the cakes are completely cool, spread a layer of frosting on top of one cake layer, place the second layer on top, and frost the top and sides of the cake.
14. Decorate with additional maraschino cherries if desired.

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