64703 ÷ 8 = 8087 R7
Alright, let's work through the division of 64703 by 8 step by step.

Step 1:
8 goes into 6 0 times with a remainder of 6.
Write down 0 as next digit of of the result. 
Result so far: 0
Subtract 0 from 6 to get 6.
Bring next digit (4) of the dividend behind the 6 and repeat the process: 64 / 8

Step 2:
8 goes into 64 8 times with a remainder of 0.
Write down 8 as next digit of of the result. 
Result so far: 8
Subtract 64 from 64 to get 0.
Bring next digit (7) of the dividend behind the 0 and repeat the process: 7 / 8

Step 3:
8 goes into 7 0 times with a remainder of 7.
Write down 0 as next digit of of the result. 
Result so far: 80
Subtract 0 from 7 to get 7.
Bring next digit (0) of the dividend behind the 7 and repeat the process: 70 / 8

Step 4:
8 goes into 70 8 times with a remainder of 6.
Write down 8 as next digit of of the result. 
Result so far: 808
Subtract 64 from 70 to get 6.
Bring next digit (3) of the dividend behind the 6 and repeat the process: 63 / 8

Step 5:
8 goes into 63 7 times with a remainder of 7.
Write down 7 as next digit of of the result. 
Result so far: 8087
Subtract 56 from 63 to get 7.

The final result is 8087 with a remainder of 7.