96761 ÷ 8 = 12095 R1
Alright, let's work through the division of 96761 by 8 step by step.

Step 1:
8 goes into 9 1 times with a remainder of 1.
Write down 1 as next digit of of the result. 
Result so far: 1
Subtract 8 from 9 to get 1.
Bring next digit (6) of the dividend behind the 1 and repeat the process: 16 / 8

Step 2:
8 goes into 16 2 times with a remainder of 0.
Write down 2 as next digit of of the result. 
Result so far: 12
Subtract 16 from 16 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: 120
Subtract 0 from 7 to get 7.
Bring next digit (6) of the dividend behind the 7 and repeat the process: 76 / 8

Step 4:
8 goes into 76 9 times with a remainder of 4.
Write down 9 as next digit of of the result. 
Result so far: 1209
Subtract 72 from 76 to get 4.
Bring next digit (1) of the dividend behind the 4 and repeat the process: 41 / 8

Step 5:
8 goes into 41 5 times with a remainder of 1.
Write down 5 as next digit of of the result. 
Result so far: 12095
Subtract 40 from 41 to get 1.

The final result is 12095 with a remainder of 1.