yes, otherwise your list would grow forever.
Of course, if you have a fixed-size array, then you just round-robin bullets in that array and you don't need to worry about a thing, old bullets will be overwritten by new ones. If you have too few array slots you'd see bullets disappear, hence, your array should be large enough to let the oldest bullets go off-screen in a worst-case-scenario.
Of course, if you have a fixed-size array, then you just round-robin bullets in that array and you don't need to worry about a thing, old bullets will be overwritten by new ones. If you have too few array slots you'd see bullets disappear, hence, your array should be large enough to let the oldest bullets go off-screen in a worst-case-scenario.