This study investigates the magnetocaloric potential of the Al50Cr21-xMn17+xCo12 (x=0, 4, 8 at%) high-entropy alloy (HEA) series using integrated experimental and theoretical approaches. Structural analysis by X-ray diffraction and scanning electron microscopy indicate a dual phase containing B2 and body-centered cubic (BCC) structures. Magnetic characterization shows an approximately linear decrease in saturation magnetization and Curie temperature with increasing Cr content. Curie temperatures calculated by Monte Carlo simulations suggest that the measured magnetic properties originate from the B2 phase rather than the BCC phase. The enhanced magnetocaloric effect with decreasing Cr content highlights the attractiveness of HEAs in magnetocaloric applications.