Preheat Oven: Preheat your oven to 350°F (175°C) and line a muffin tin with cupcake liners.
Mix Dry Ingredients: In a medium bowl, whisk together the flour, baking powder, baking soda, and salt.
Cream Butter and Sugars: In a large bowl, beat the softened butter, granulated sugar, and brown sugar until light and fluffy.
Add Eggs and Extracts: Add eggs one at a time, beating well after each addition. Mix in vanilla and butter extracts.
Combine Ingredients: Gradually add the dry ingredients to the wet ingredients, alternating with buttermilk and cream soda, beginning and ending with dry ingredients. Mix until just combined.
Fill and Bake: Divide the batter among cupcake liners, filling each about 2/3 full. Bake for 18-20 minutes or until a toothpick inserted comes out clean. Cool in the tin for 5 minutes, then transfer to a wire rack to cool completely.
Prepare Frosting: Beat softened butter until creamy. Add butterscotch sauce, vanilla, and butter extracts, then beat until combined. Gradually add powdered sugar, one cup at a time. Add heavy cream until frosting reaches desired consistency.
Frost and Garnish: Frost cooled cupcakes with butterscotch frosting. Drizzle with additional butterscotch sauce and sprinkle with golden sprinkles, if desired.