What is 123 Divided by 40 using Long Division?

$$ \begin{array}{rl} & 003 \phantom{00} \leftarrow Quotient \\[-4pt] Divisor \rightarrow \phantom{0} 40 \kern-1ex & \kern-1ex \enclose{longdiv}{123} \phantom{0} \leftarrow Dividend \\[-4pt] & \phantom{} \underline{\phantom{} 0\phantom{0}} \\[-4pt] & \phantom{} 1 2 \\[-4pt] & \phantom{} \underline{\phantom{0} 0\phantom{0}} \\[-4pt] & \phantom{} 12 3 \\[-4pt] & \phantom{} \underline{\phantom{} 120\phantom{0}} \\[-4pt] & \phantom{00} 3 \phantom{0} \leftarrow Remainder \\[-4pt] \end{array} $$