In large bowl, beat butter and sugar with electric mixer until light and fluffy. Beat in egg and extracts. Mix flour, baking powder and salt; add to butter mixture 1 cup at a time, mixing after each addition. Do not chill dough. Divide dough into 2 balls.
On floured surface, roll each ball into a circle approximately 12 in. diameter x 1/8 in. thick. Dip cookie cutter in flour before each use. Bake cookies on ungreased cookie sheet 8-11 minutes or until cookies are lightly browned.