There is no setting/option to configure log rotation in BWC. As a workaround you can try the following command to truncate the log.
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cat /dev/null > audit.log
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This way, you do not risk altering the open file handle. This will work for BWC debug and audit logs. You cannot use this for status.log. For status.log, try coping the file and then do 'cp /dev/null status.log' to truncate it. The header line needs to be added as the first line of the file for the status.log to be interpreted correctly.